Latest news with #JohnDeaton
Yahoo
5 days ago
- Business
- Yahoo
Pro-XRP lawyer John Deaton warns against using home equity to buy Bitcoin
Pro-XRP lawyer John Deaton warns against using home equity to buy Bitcoin originally appeared on TheStreet. Pro-XRP lawyer John Deaton has sounded the alarm over the latest investment trends emerging in the Bitcoin community. There are multiple ways to trade Bitcoin in the U.S. One can directly trade in BTC over centralized or decentralized crypto exchanges, invest in stocks of Bitcoin-focused companies such as Strategy (Nasdaq: MSTR), or invest in exchange-traded funds (ETFs) tied to Bitcoin. There are even more innovative ways of Bitcoin investing that are gaining the attention of the trading community. One such way is using home equity to invest in Bitcoin. Recently, a technology company Horizon launched a program that lets a homeowner access a portion of their home's equity — without monthly payments — and invest some of that equity in Bitcoin. Deaton cautioned against such trends in Bitcoin investing even as he reminded everyone that he is himself a Bitcoin bull. He reminded his followers on X that he disclosed holding 80% of his net worth in Bitcoin to the Federal Election Committee (August 2024 Senatorial financial disclosures). He added that he even took on Democrat Elizabeth Warren in Massachusetts during the 2024 election, who he says sought a ban against self-custody of Bitcoin in the country. Nonetheless, Deaton said Bitcoin investing trends such as mortgaging homes or acquiring preferred stocks offered by Strategy for the purpose could lead to "bad outcomes" for such investors due to risks involved. Bitcoin has had a terrific year so far and has grown nearly 50% over the last 12 months. As per Kraken, it was trading at $105,370.29 at press time. Pro-XRP lawyer John Deaton warns against using home equity to buy Bitcoin first appeared on TheStreet on Jun 4, 2025 This story was originally reported by TheStreet on Jun 4, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21-04-2025
- Business
- Yahoo
Pro-crypto lawyer is surprised Ripple isn't following Coinbase's example
Several leading crypto companies, including Circle, Coinbase, BitGo, and Paxos, are reportedly planning to apply for banking charters or licenses in the U.S., the Washington Post reported on Apr. 21. Pro-crypto lawyer John Deaton expressed his surprise at the payments firm Ripple not applying for the banking license. He wrote on X (formerly Twitter) 'that it was a matter of time.' The Washington Post added that the crypto firms are trying to ride the pro-crypto sentiment in the new administration to push their long-term plans. While some firms are trying to obtain banking charters in order to operate like traditional banking institutions, other firms are trying to obtain necessary licenses to offer select services such as stablecoin issuance. John Deaton, founder of CryptoLaw, is well known for his pro-crypto stance. He also took on Senator Elizabeth Warren (D-MA) as a Republican Party candidate in the 2024 election, in which he repeatedly challenged the Democratic leader's positions on crypto assets. However, Deaton lost the election to Warren. Though Deaton is surprised at Ripple not going after a banking license, the payment firm is set to acquire the prime broker Hidden Road for $1.25 billion, as reported earlier. Hidden Road announced on Apr. 17 that its wholly-owned subsidiary, Hidden Road Partners CIV US LLC, has secured approval from the Financial Industry Regulatory Authority (FINRA) to operate as a broker-dealer. Ripple is also nearing the settlement with the Securities and Exchange Commission (SEC) of its years-long lawsuit over alleged securities violations. As per Kraken's price feed, XRP was trading at $2.13 at press time, up 3.3% over a day.
